What's next for GBPJPY?
GBPJPY has broken out of the strong bullish trend started in March and found support in the 159.900 to 159.700 area. Price also made a complete .5 retracement then started making lower highs while forming a solid support
around the 162.587 to 162.261 levels. In price pattern this is called a descending triangle. So where will price go next? we will have to trade the break out of this pattern by waiting on two confirmed lower lows (if price breaks out bearish) or two high highs (if price breaks out bullish)
around the 162.587 to 162.261 levels. In price pattern this is called a descending triangle. So where will price go next? we will have to trade the break out of this pattern by waiting on two confirmed lower lows (if price breaks out bearish) or two high highs (if price breaks out bullish)